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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes in, the Company's Stock Option Awards
Busey has outstanding stock options that were issued under the First Community 2016 Equity Incentive Plan and assumed in Busey’s 2017 acquisition of First Community. A summary of the status of, and changes in, Busey's stock option awards for the year ended December 31, 2025, follows:
OptionsSharesWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term		Intrinsic
Value ($000's)
Outstanding at December 31, 202415,106 $23.53 1.87 years$1 
Outstanding at December 31, 202515,106 $23.53 0.87 years4 
 
Exercisable at December 31, 202515,106 $23.53 0.87 years4 
Schedule of Share-Based Payment Arrangement, Stock Appreciation Right, Activity
A summary of SSAR activity during 2025 is presented below:
SSARsSharesWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term		Intrinsic
Value ($000's)
Outstanding at December 31, 2024— $— — $— 
Replacement of CrossFirst SSARs424,390 15.78 
Exercised1
(119,842)13.31 
Forfeited(4,005)16.00 
Expired(30,145)23.23 
Outstanding at December 31, 2025270,398 $16.04 4.98 years2,095 
Exercisable at December 31, 2025253,560 $15.70 4.94 years2,051 
___________________________________________
1. The aggregate intrinsic value of SSARs exercised during 2025 was $1.1 million.
Schedule Of Share-Based Payment Award, Stock Appreciation Rights, Valuation Assumptions
The following table provides the range of assumptions used in the Monte Carlo simulations to value CrossFirst awards that were replaced at acquisition and the weighted average grant date fair value per share:
Year Ended December 31, 2025
Assumptions
Expected volatility1
29.10% – 36.70%
Expected dividends2
4.17%
Simulation term3, 4, 5
4.20 years – 5.69 years
Risk-free rate6
3.97% – 4.03%
Weighted average grant date fair value per share
$8.94 
___________________________________________
1.Expected volatility was calculated using a historical volatility of Busey’s stock price over a period commensurate with the simulation term of the SSARs.
2.The dividend yield was calculated using Busey’s annual dividend and closing stock price on the date of acquisition.
3.The simulation term was commensurate with the midpoint of the longest expected term across all SSARs and was impacted by expected exercise behavior and termination rate.
4.As a component of determining the simulation term, exercise was assumed to occur at the earlier of the midpoint of i) the greater of the weighted average time to vest or the time the options are in the money, and the time the SSARs expire, ii) 90 days following the occurrence of a termination, or iii) the end of the contractual term.
5.As a component of determining the simulation term, termination rate was assumed to be between 25% and 50% in the first year following the acquisition and 5% for every year thereafter.
6.The risk-free rate for the simulation term of the SSARs was based on the continuously compounded semi-annual zero-coupon U.S. Treasury rates.
Schedule of Changes in the Company's RSU, PSU, and DSU Awards
A summary of changes in Busey’s RSU awards for the year ended December 31, 2025, is presented in the following table:
RSU AwardsSharesWeighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 20241,066,772 $21.80 
Conversion of Busey ROATCE PSUs to RSUs
157,094 23.99 
Replacement of CrossFirst RSUs and PSUs
341,048 23.99 
Granted 387,882 22.28 
Dividend equivalents earned 63,864 22.32 
Vested (547,788)20.77 
Forfeited (148,335)22.48 
Nonvested at December 31, 20251,320,537 $23.14 
A summary of changes in Busey’s PSU awards for the year ended December 31, 2025, is presented in the following table:
PSU Awards
Shares1
Weighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 2024
372,042 $21.15 
Modifications based on CrossFirst acquisition2
(181,828)20.43 
Granted
407,723 20.99 
Dividend equivalents earned
198 21.87 
Vested
(21,792)20.61 
Forfeited
(50,842)20.94 
Nonvested at December 31, 2025
525,501 $21.32 
 
Vested and outstanding at December 31, 20253
13,455 $20.44 
___________________________________________
1.Shares for PSU awards represent target shares at grant date.
2.Modifications include PSUs that were converted to RSUs as well as balance adjustments related to the 2023 TSR PSUs and the 2024 TSR PSUs.
3.The performance and service periods for PSUs granted in 2023 ended on December 31, 2025, and these awards were considered vested under the 2020 Equity Plan at that time. Performance achievement was calculated in January 2026 and approved by Busey’s Compensation Committee on January 27, 2026. The achievement percentage for these awards was determined to be zero percent.
A summary of changes in Busey’s DSU awards for the year ended December 31, 2025, is presented in the following table:
DSU AwardsSharesWeighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 202436,893 $23.40 
Granted 39,846 22.16 
Dividend equivalents earned 8,518 22.64 
Vested (44,039)23.29 
Nonvested at December 31, 202541,218 $22.16 
 
Vested and outstanding at December 31, 2025146,076 $23.01 
Schedule of Stock-based Compensation Expense
Busey recognized compensation expense related to non-vested equity awards as summarized in the table below:
Years Ended December 31,
(dollars in thousands)Location202520242023
Stock-based compensation expense
SSARs
Salaries, wages, and employee benefits$137 $— $— 
RSU awards
Salaries, wages, and employee benefits10,657 3,823 2,622 
PSU awards1
Salaries, wages, and employee benefits5,158 2,867 2,962 
DSU awards
Other expense842 826 833 
ESPP
Salaries, wages, and employee benefits326 210 178 
Total stock-based compensation expense
$17,120 $7,726 $6,595 
___________________________________________
1.Expense for PSU awards with a relative total stockholder return performance goal represents amounts based on target shares at the grant date. Expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at the grant date, adjusted for performance expectations as of the date indicated.
Schedule of Unamortized Stock-based Compensation Expense
Unamortized stock-based compensation expense is presented in the table below:
As of December 31,
(dollars in thousands)20252024
Unamortized stock-based compensation
SSARs$98 $— 
RSU awards9,236 7,093 
PSU awards1
5,769 3,043 
DSU awards206 181 
Total unamortized stock-based compensation$15,309 $10,317 
 
Weighted average period over which expense is to be recognized on awards issued under Busey's 2020 Equity Plan
1.8 years
2.5 years
Weighted average period over which expense is to be recognized on CrossFirst replacement awards
1.2 years
N/A
___________________________________________
1.Unamortized expense for PSU awards with a relative total stockholder return performance goal represents amounts based on target shares at grant date. Unamortized expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.